Utica struggles

May 15, 2012

Spencer Platt/Getty Images

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UTICA, NY - MAY 14: A clock stands in downtown Utica on May 14, 2012 in Utica, New York. Like many upstate New York communities, Utica is struggling to make the transition from a former manufacturing hub. The city's individual poverty rate is twice the national average with an unemployment rate of 9.8% as of February 2012. Citing Utica's weakening financial margins over the past two years, Fitch Ratings downgraded its credit rating on Utica by two notches to a triple-B, two rungs above junk territory.

Spencer Platt/Getty Images

4of53

UTICA, NY - MAY 14: A clock stands in downtown Utica on May 14, 2012 in Utica, New York. Like many upstate New York communities, Utica is struggling to make the transition from a former manufacturing hub. The city's individual poverty rate is twice the national average with an unemployment rate of 9.8% as of February 2012. Citing Utica's weakening financial margins over the past two years, Fitch Ratings downgraded its credit rating on Utica by two notches to a triple-B, two rungs above junk territory.